Accor secures partnership with Chinese hotel operator Huazhu

By Cherry Cao | December 15, 2014, Monday |

Online Edition

FRENCH hospitality giant Accor SA has joined forces with Huazhu Hotels Group in a strategic partnership that will help both parties accelerate expansions in China, one of the largest and fastest-growing domestic travel markets and also the world’s largest outbound travel market.

Under their alliance, Accor’s economy and midscale platform in China will become part of Huazhu, a Nasdaq-listed hotel company with a portfolio of over 1,900 hotels covering the full spectrum of the market. Huazhu will become Accor’s exclusive master-franchisee operating and developing in the Chinese mainland, Mongolia and Taiwan for the economy (ibis and ibis Styles) and midscale segments (Novotel and Mercure), as well as the upscale Grand Mercure brand. Accor, meanwhile, will take a 10-percent stake in Huazhu and will have a seat at Huazhu’s board of directors, according to the agreement.

"This ground-breaking collaboration will leverage the strengths of Accor’s global brands with a leading player in Chinese hospitality," said Sebastien Bazin, chairman and chief executive officer of Accor. "Joining Huazhu’s unparalleled local expertise with our brands will create a hospitality powerhouse which will deliver unprecedented value to both groups and to our customers."

As planned, Accor will continue to lead the ownership and development of all its luxury and other upscale brands in China, including Sofitel, Pullman, MGallery and The Sebel. Huazhu will become a minority shareholder in Accor’s luxury and upscale business in China with a 10-percent stake.

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Accor secures partnership with Chinese hotel operator Huazhu

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